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Trends and Outliers

TIBCO Spotfire's Business Intelligence Blog

Monthly Archives: January 2011

01/31
2011

Data Analytics Study Uncovers Billions in Potential Revenue.

Class of students 150x150 Data Analytics Study Uncovers Billions in Potential Revenue.Whenever a teacher gives out bad grades, the kindest way to share bad news is to explain ‘room for improvement’ — that approach is key to a University of Texas research project showing how some companies are using business intelligence and analytics tools to capitalize on the massive amounts of data being produced every day.  The study led  by McCombs School of Business Prof. Anitesh Barua found corporations have LOTS of untapped potential. In plain English, you’d call that ‘leaving money on the table.’

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Filed under: Data Analytics

01/28
2011

How Business Intelligence Wins In Financial Services Now

Stacks of paper1 How Business Intelligence Wins In Financial Services NowFor Jason Webster of Archteype Consulting Inc., the increasing use of business intelligence and corporate performance management software reflects a swing back toward accountability, driven partly by regulatory changes such as Sarbanes-Oxley and other laws that followed the corporate scandal.  Some companies have taken the mandates and turned them into a competitive edge.  More enterprises, using data visualization and analytics tools, inspired an analogy worthy of the Boston Marathon: “ If BI/CPM is the road that gets your organization there, your reporting and analytics solution is the last mile.”

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01/27
2011

Text Analytics – What To Do With The Other 80% Of Your Data

ROI1 150x150 Text Analytics – What To Do With The Other 80% Of Your DataIt is commonly estimated that 80% of enterprise data exists as text and other unstructured data. Text is everywhere – in emails, documents, reports, forms, call logs, press releases, blogs, tweets and more. Text analytics, or text data mining, is the process of automatically extracting concepts, topics, facts, sentiments, relationships and other information from text. It can be used to classify documents, automatically route emails to the right person, identify specific quality or service problems, monitor the competitive marketplace and better understand the “voice of the customer.”

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Filed under: Text Analytics

01/26
2011

Data Visualization Maps Out Geopolitical Relationships

As reported on their news analytics blog and in The Huffington Post, Recorded Future recently decided to use data visualization to analyze and identify the strength of geopolitical relationships among countries. They used a unique set of data extracted using their News Analytics API — 7,000 trips to foreign countries by 1,000 prominent politicians, generals and business people. To visualize and analyze the data, they turned to Tibco Spotfire.

Recorded Future first plots the data to see a map emerge at a high level. In this visualization, they are able to highlight a specific city on the overall map.

t2 300x217 Data Visualization Maps Out Geopolitical Relationships

Network Map Highlighting A Specific City. Extracted from "Visualizing Global Foreign Relations

The group next drilled deeper into the data using a connectedness metric to isolate and visualize the five most connected cities. Their findings show the most important cities to be emerging powers such as China, India and Turkey. The strongest connection of all is between Washington, D.C. and Beijing.

t7 300x187 Data Visualization Maps Out Geopolitical Relationships

Top 5 Cities. Extracted from "Visualizing Global Foreign Relations" by Recorded Future.

Recorded Future also analyzed the data by individuals and supplemented the city map with a treemap of individuals colored by how favorable the visit was considered by the media.

t9 300x154 Data Visualization Maps Out Geopolitical Relationships

Treemap of Individuals. Extracted from "Visualizing Global Foreign Relations" by Recorded Future.

Incidentally, Spotfire’s Venkat Mullur, Senior Director of Industry Solutions, co-hosted a webcast with Recorded Future last month entitled: News Clues: How Web Content Can Help You Predict and Test the Impact of Events.

Subscribe to our blog to stay informed on data visualization and other data analytics topics.

Steve McDonnell
Spotfire Blogging Team

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Filed under: Data Visualization

01/25
2011

5 Tips For Getting Started With Text Analytics

text analytics340x220 300x225 5 Tips For Getting Started With Text AnalyticsIf you’re just getting started with text analytics, you have the advantage of learning from others who have taken on a similar task. Here are five tips to keep in mind:

    1. Start Small
    Those more experienced with text analytics recommend starting with a pilot project so that you can demonstrate ROI, get management buy-in and use the knowledge and experience you gain through the pilot to expand into other areas. If your objective is to enhance brand and product image in the market, create competitive strategies from competitive analysis, develop actionable items from the customer feedback and improve customer service, that’s probably too much to take on. Start with a smaller, focused, realistic goal.

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Filed under: Text Analytics

01/24
2011

The Next Big Thing In Social BI – Tibbr

logo tibbr 287x196 The Next Big Thing In Social BI   TibbrIt’s no surprise that smart companies are aware and evaluating ways to connect people and technology through social technologies. Julie B. Hunt, a software industry consultant and one of our favorite Tweeps recently explored this in depth on her blog with her call for “social business.” The goal of the social business, she says is to engage “all of the people in an enterprise ecosystem – to bring about better results.” Be sure to check out the in-depth piece.

With this socialization of business in mind, how do we engage all of these people in the ecosystem and cut through the clutter of information? Some companies rely on private Facebook communities, private Twitter feeds, closed LinkedIn Groups or even forums within the security of an Intranet.

Social is a Two-Way Street
However, there’s a problem with these setups. Users either have to go there to seek information or they have to rely on an application to deliver their feeds to an inbox, which quickly takes the social out of a community for users who don’t want to go out there to communicate.

A bigger piece of the puzzle is that these applications only give secondhand information – from a person. While this isn’t the worst situation, it’s not very real-time.

The more ideal situation is to connect people to the systems, processes, applications and subjects to give the most up-to-date information. Social BI applications offer a piece of this, but it still requires a user to take action.

The Truly Social Enterprise
The true social enterprise delivers a reciprocal relationship between users and technology. Users can access data via a social BI platform when they need to make crucial decisions. And, data finds users in real-time that is specific to their role in the organization.

Is There An App for That?
You betcha. Spotfire combined with TIBCO’s new social enterprise platform - tibbr allows companies all over the world to connect people and systems without the data overload.

A Real-Time Opportunity to See Social Business in Action
Join TIBCO Chairman and CEO Vivek Ranadivé, EVP Ram Menon, customers and industry experts for a real-time discussion on social enterprise collaboration. The product launch for tibbr takes place today, January 24, from 10:30 a.m. (PST) to noon at the Terra Gallery, 511 Harrison Street in San Francisco. This event requires free online registration or you can contact Tiffany Anderson at tanderso@tibco.com or (650) 846-8737.

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Filed under: Social BI

01/20
2011

The Power of Data Visualization in Four Minutes

Want to understand the power of data visualization? Watch this video from Professor Hans Rosling, a professor of global health at Sweden’s Karolinska Institute, and founder of GapMinder.org (a nonprofit foundation focused on promoting sustainable global development and achieving the initiatives of the United Nations Millennium Development Goals).

In just four minutes, Rosling tells 200 years of history for 200 countries. He accomplishes this fascinating journey through time by plotting life expectancy against income for every country since 1810 in life-sized graphs created with now Google-owned Trendalyzer software.

This four-minute video is from Rosling’s hour-long documentary “The Joy of Stats,” which pulls in 120,000 numbers to give a visualization of how most countries began in the “poor and sick” side of the scale. Just like a game recap on ESPN, Rosling gives the play-by-play of how historic events and science affected the rise and fall of countries over time.


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Filed under: Data Visualization

01/19
2011

New Ways to Save on Electricity Using Analytics and Smarter Home Devices

j03901421 150x150 New Ways to Save on Electricity Using Analytics and Smarter Home DevicesIf you have spent more than $70 a year on standby electricity use while devices were shut off, chances are you’d find a way to recover that money.   We’ve written about energy analytics devices and tools like Emonitor or electric dashboards to show you where power is going.  Now, accessories maker Belkin wants you to conserve – and save money – by making electric plugs smarter.

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01/18
2011

3 Key Questions for Data Analytics Projects

Occams Razor 3 Key Questions for Data Analytics ProjectsIn a recent BNET article, Michael Hess, shared a philosophy for making business as simple as possible. Called Occam’s Razor, this philosophy boils down to making things as simple as possible to increase action and productivity across the organization. Hess has three questions worth considering when you are implementing or evaluating data analytics or business intelligence projects across the organization.

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01/17
2011

How Spotfire Users Find New Ways to Use BI Tools

data analytics community 300x210 How Spotfire Users Find New Ways to Use BI ToolsSome of the most impressive things about Spotfire data analytics and visualization tools come from the users –people who are always stretching the boundaries, finding new and innovative ways of making data dance.

In just the past month, users have posted ways to share data, annotate and even update databases with the insights and results that queries deliver.  Making your data even smarter and finding new sources are regular occurrences for the thousands of people who gather in the TIBCO Spotfire Community website or with advice from the Tip Of The Week blog.

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